Options Market Statistics: Delta Air Lines Options Pop on Latest Q1 Earnings

$Tesla Motors(TSLA)$   shares fell by 2.89%, closing at $171.76. Its options trading volume was 1.92 million. Call contracts account for 44.4% of the total trading volume. The most traded calls are contracts of $175 strike price that expire on Apr. 12th. The total volume reaches 109,510 with an open interest of 18,287. The most traded puts are contracts of a $170 strike price that expires on Apr. 12th; the volume is 110,173 contracts with an open interest of 9,303.

Tesla, opens new tab chief Elon Musk said he will visit India to meet Prime Minister Narendra Modi, and two sources told Reuters the billionaire entrepreneur is expected to make an announcement on investment and a factory in the country.

"Looking forward to meeting with Prime Minister Narendra Modi in India!", he said in a post on X after Reuters first reported details of Musk's planned India visit this month.

The billionaire will meet Modi in the week of April 22 in New Delhi, and will separately make an announcement about his India plans, said the two sources, who declined to be named as the trip details are confidential.

Modi's office and Tesla did not respond to requests for comment. Musk's final India trip agenda could still change.

$NVIDIA Corp(NVDA)$   shares rose by 1.97%, closing at $870.39. Its options trading volume was 1.25 million. Call contracts account for 53.8% of the total trading volume. The most traded calls are contracts of $900 strike price that expire on Apr. 12th. The total volume reaches 29,915 with an open interest of 8,857. The most traded puts are contracts of a $870 strike price that expires on Apr. 12th; the volume is 20,583 contracts with an open interest of 8,093.

Nvidia shares rose about 2% as the "Magnificent Seven" leader tried to move the company out of correction territory. The stock is 11% below a record high reached earlier this year.

$Delta Air Lines(DAL)$   shares fell by 2.28%, closing at $46.24. Its options trading volume was 0.26 million. Call contracts account for 67.8% of the total trading volume. The most traded calls are contracts of $55 strike price that expire on May. 17th. The total volume reaches 13,733 with an open interest of 2,244. The most traded puts are contracts of a $45 strike price that expires on Apr. 19th; the volume is 4,775 contracts with an open interest of 4,754.

Atlanta-based Delta on Wednesday reported record first-quarter adjusted revenue of $12.6 billion, but cargo revenue fell 15% year over year to $178 million. The world's second-largest passenger airline by passengers carried almost never mentions cargo beyond a line on the income statement, but the earnings news release twice said cargo and maintenance service were nearly a 1-point drag on total unit revenue, which dipped 0.7% year over year.

Delta's cargo revenue during the fourth quarter, the busiest period for freight, fell 24% to $188 million. That was better than the prior three quarters, when cargo revenue was down between 28% and 37% from the same periods in 2022. For the full year, Delta Air Lines' cargo sales fell 31% to $723 million.

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